The 2015 Honda Accord is available now, and while we think it’s one of the smartest buys you can make in the mid-size sedan world, we’re not alone. ALG has released statistics on the residual value for the 2015 Chevy Malibu and the 2015 Honda Accord, and we think you can only make the right decision on buying your next car if you take these stats into account.
What is Residual Value?
You might be able to get an idea of what “residual value” is from just looking at the two words, but if you don’t, don’t feel bad about it. It’s an idea that can be really helpful when shopping for a car, but many drivers haven’t even heard of it.
Do you know the old saying that the value of a car is cut in half the second that you drive it off of the lot? While that’s a bit of an exaggeration, there is some truth to the idea that a car depreciates once you start driving it. And that’s where residual value comes in.
By looking at factors like market demands, standard features, and the previous reliability and depreciation of the model, groups like ALG calculate residual values of vehicles like the Accord and the Malibu.
How Do the Malibu and Accord Compare?
So, residual value is a great way to figure out which vehicles make for smart investments, but how do the Malibu and the Accord compare on residual value?
- ALG rates the 2015 Chevy Malibu at a residual value of 45% at 36 months and 34% and 60 months.
- The 2015 Honda Accord LX Sedan with CVT, on the other hand, has an ALG residual value of 54% at 36 months and 40% at 60 months.
We think that one of the things that puts the Accord ahead of the Malibu are its incredible standard features, as amenities like the Bluetooth connectivity, touchscreen infotainment system, and rearview camera will be assets for years to come.
Test Drive an Accord Today
The 2015 Honda Accord is available now at West Michigan Honda Dealers, and we can’t wait to show it to you. Stop by one of our locations today and let us set you up with a test drive.